Arizona State Retirement System Has $812,000 Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Arizona State Retirement System trimmed its position in Freshpet, Inc. (NASDAQ:FRPTFree Report) by 8.6% during the third quarter, Holdings Channel reports. The institutional investor owned 12,332 shares of the company’s stock after selling 1,164 shares during the quarter. Arizona State Retirement System’s holdings in Freshpet were worth $812,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FRPT. Oppenheimer Asset Management Inc. grew its position in shares of Freshpet by 4.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 33,383 shares of the company’s stock worth $2,197,000 after purchasing an additional 1,522 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Freshpet by 6.2% during the third quarter. Bank of New York Mellon Corp now owns 1,254,061 shares of the company’s stock worth $82,617,000 after acquiring an additional 73,393 shares in the last quarter. Jana Partners LLC lifted its holdings in shares of Freshpet by 6.9% in the second quarter. Jana Partners LLC now owns 4,289,586 shares of the company’s stock valued at $282,298,000 after purchasing an additional 275,374 shares in the last quarter. Headlands Technologies LLC purchased a new position in Freshpet during the 2nd quarter worth $175,000. Finally, Jennison Associates LLC grew its position in Freshpet by 15.2% in the 3rd quarter. Jennison Associates LLC now owns 670,424 shares of the company’s stock worth $44,168,000 after purchasing an additional 88,307 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently weighed in on FRPT. Piper Sandler lifted their price target on Freshpet from $88.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. DA Davidson assumed coverage on Freshpet in a report on Friday, December 8th. They set a “buy” rating and a $104.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on shares of Freshpet from $84.00 to $67.00 and set a “neutral” rating for the company in a research report on Tuesday, November 7th. TheStreet raised shares of Freshpet from a “d+” rating to a “c-” rating in a research note on Thursday, December 21st. Finally, Citigroup started coverage on Freshpet in a research report on Thursday, February 1st. They set a “neutral” rating and a $94.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.60.

Get Our Latest Stock Report on Freshpet

Freshpet Stock Down 0.0 %

Shares of FRPT stock opened at $88.38 on Thursday. The stock has a 50 day moving average of $83.94 and a 200 day moving average of $73.83. The stock has a market cap of $4.26 billion, a P/E ratio of -81.83 and a beta of 1.18. Freshpet, Inc. has a twelve month low of $45.13 and a twelve month high of $89.87. The company has a current ratio of 5.52, a quick ratio of 4.81 and a debt-to-equity ratio of 0.45.

Freshpet (NASDAQ:FRPTGet Free Report) last posted its quarterly earnings results on Monday, November 6th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $200.60 million for the quarter, compared to analyst estimates of $194.45 million. Freshpet had a negative net margin of 7.22% and a negative return on equity of 5.37%. Freshpet’s quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.39) earnings per share. As a group, sell-side analysts expect that Freshpet, Inc. will post -0.83 EPS for the current year.

Freshpet Profile

(Free Report)

Freshpet, Inc manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

Further Reading

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Institutional Ownership by Quarter for Freshpet (NASDAQ:FRPT)

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